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Economical

economical

Economical Insurance

Surex represents over 10 of Canada’s top insurance companies and Economical Insurance is one of them. When you start a quote with us you will be able to review all the matched carriers at once and you then can select the price and coverage that best suits you. 

Economical Mutual Insurance Company Canada

The Economical Insurance Company is one of the top-rated property and casualty insurance providers in Canada. The casualty insurance company specializes in a variety of personal and business insurance coverages, making them a fantastic option for everyday Canadians and business owners alike.

Economical Insurance has been providing coverage for cars, businesses, homes and farms in Canada since 1871, making them one of Canada's oldest and most experienced insurance companies. Since it was founded, Economical has learned that the most important part of selling insurance is putting the policyholders first.

So, whether you're looking for a property and casualty insurer for your home, car, business or farm, you can rely on the team at Economical Insurance.

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Definity Financial Corporation

In November 2021, Economical expanded by becoming a subsidiary of the Definity Financial Corporation. Economical's parent company also works with a variety of other Canadian insurers in the market, like Family Insurance Solutions Inc., Petline Insurance and the Sonnet Insurance Company.

Here's a quick look at some of the other subsidiaries:

The Sonnet Insurance Company

The Sonnet Insurance Company, another subsidiary of Definity, launched in 2016 — since then, they've used innovative technology to reach a wide range of policyholders across the nation.

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Petline Insurance

The Petline Insurance Company works with Canadians to provide high-quality pet insurance to policyholders.

Family Insurance Solutions Inc.

Family Insurance Solutions Inc. provides high-quality home and optional auto insurance coverages to policyholders in British Columbia.

Joining the Definity Financial Corporation has help Economical further their reach and improve the quality of the services.

What separates Economical Insurance from other insurance companies in Canada?

Here are some of the reasons why Economical Insurance is among the top-rated insurers on the market in Canada:

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Variety of high-quality personal policy options

Insurance is one of the best things you can purchase to protect your investments, like your home and car. The team at Economical Insurance knows this; that's why they offer a wide range of personal insurance options for property and auto insurance in Canada.

Whether you want to protect your home from sudden, unforeseen events or keep yourself safe on the road, Economical is here to help.

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Works with reputable brokers

Economical is proud to work with a wide variety of reputable Canadian brokerages, including Surex. Insurance brokers help policyholders find and compare quotes from top-rated insurers, like Economical. So, whether you're looking for your first policy or your umpteenth policy, you can trust them with your welfare and future.

When you compare insurance quotes with a broker, you get to take advantage of a number of perks and benefits, including:

  • Choose from the best insurance products in the country
  • Knowledge advice from an experienced insurance specialist
  • Reliability and transparency throughout the process
  • Ensures that you are treated fairly
  • Allows you to purchase insurance directly online or over the phone
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High customer satisfaction rate for car insurance

So, what's the difference between Economical Insurance and the average insurer in Canada? One of the primary differences is their extraordinary customer satisfaction rating with the concerned citizens of Canada.

Post claim surveys have found that Economical's customers had an 88% customer satisfaction rating for auto insurance (after submitting an car insurance claim).

High customer satisfaction rate for property insurance

Additionally, the same surveys found that their team had an 81% customer satisfaction rating for house and property insurance (after submitting a property insurance claim). They are proud to have such a high satisfaction rating with customers.

With this in mind, it's easy to see how Economical has earned the title as one of Canada's leading property and auto insurance companies.

About the Economical Insurance Company

Here are some interesting facts about the Economical Insurance Company:

Company headquarters: Waterloo, Ontario

Company site: https://www.economical.com/en/home

Parent Company: Definity Financial Corporation

CIO: Tatjana Lalkovic

Number of employees: More than 2,600 employees across the country

Financial strength rating: A- financial strength rating from A.M. Best Co.

Locations serviced: 13 locations across Canada, including British Columbia, Quebec and Ontario

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Types of insurance that the Economical Insurance Company offers policyholders in Canada

Economical offers the following types of personal insurance services:

Car insurance

Canadian property insurance

Additionally, the company offers the following types of business and farm insurance:

Property insurance

Liability insurance

Commercial auto coverage

Surety bonds

Oilfield services insurance

Speak with your Surex insurance advisor to learn more about the various types of insurance services the insurer offers.

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How to submit a claim with the Economical Insurance Company

To submit claims, all you need to do is reach out to your Surex insurance advisor. Once you've contracted your advisor, they can help you deal with the issue from start to finish.

Emergency claims

For after-hours emergencies, you can call their 24-hour service line at 1-800-607-2424 or 1-888-875-8088 (Quebec residents only).

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Want to learn more about the Economical Insurance Company?

If you'd like to learn more about how Economical helps customers, or any of our reputable partners, don't hesitate to contact your Surex advisor (our preferred term for broker). Our experienced insurance brokers are always ready to address your questions, comments and concerns.

At Surex, we understand how important variety is — that's why we work with over ten of the top providers in the nation. Comparing quotes from a wide range of insurers makes it easier for Canadians like yourself to find the perfect product for you and your family.

Call or visit our website to receive a collection of quality quotes from our insurance brokers in ten minutes or less! While chatting with your broker, be sure to ask about the various benefits of bundling your policies with one of our partners, like the Economical Insurance Company!

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